Adient $ADNT Shares Sold by Harbor Capital Advisors Inc.

Key Points

• Harbor Capital Advisors Inc. reduced its stake in Adient by 31.7%, now holding 242,652 shares worth $4.72 million, according to its latest SEC filing.
• Adient reported earnings of $0.45 per share in the most recent quarter, missing estimates, but its revenue increased to $3.74 billion, surpassing expectations.
• Several institutional investors significantly increased their positions in Adient, with ownership by institutional investors currently at 92.44%.

Harbor Capital Advisors Inc. cut its stake in Adient (NYSE:ADNT - Free Report) by 31.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 242,652 shares of the company's stock after selling 112,873 shares during the quarter. Harbor Capital Advisors Inc. owned about 0.29% of Adient worth $4,722,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ADNT. Brooklyn Investment Group increased its holdings in shares of Adient by 23,600.0% in the 1st quarter. Brooklyn Investment Group now owns 2,133 shares of the company's stock valued at $27,000 after acquiring an additional 2,124 shares during the period. GAMMA Investing LLC increased its holdings in shares of Adient by 157.5% in the 1st quarter. GAMMA Investing LLC now owns 2,235 shares of the company's stock valued at $29,000 after acquiring an additional 1,367 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Adient by 991.0% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 2,182 shares of the company's stock valued at $42,000 after acquiring an additional 1,982 shares during the period. CWM LLC grew its stake in Adient by 91.4% during the 1st quarter. CWM LLC now owns 3,426 shares of the company's stock worth $44,000 after buying an additional 1,636 shares during the last quarter. Finally, Parallel Advisors LLC grew its stake in Adient by 13,957.9% during the 2nd quarter. Parallel Advisors LLC now owns 2,671 shares of the company's stock worth $52,000 after buying an additional 2,652 shares during the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. UBS Group boosted their target price on Adient from $25.00 to $26.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Zacks Research downgraded Adient from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 18th. Morgan Stanley boosted their target price on Adient from $16.00 to $17.00 and gave the stock an "underweight" rating in a research note on Tuesday, August 12th. Barclays boosted their target price on Adient from $18.00 to $25.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Finally, Bank of America boosted their target price on Adient from $17.50 to $20.00 and gave the stock an "underperform" rating in a research note on Wednesday, September 10th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Reduce" and an average price target of $21.75.

Adient Stock Performance

Shares of ADNT stock traded down $0.65 on Friday, hitting $24.57. The company had a trading volume of 2,584,423 shares, compared to its average volume of 999,396. The firm has a market cap of $2.00 billion, a P/E ratio of -9.27, a price-to-earnings-growth ratio of 0.96 and a beta of 1.76. The company has a 50-day moving average price of $23.42 and a 200-day moving average price of $18.09. The company has a quick ratio of 0.92, a current ratio of 1.12 and a debt-to-equity ratio of 1.15. Adient has a twelve month low of $10.04 and a twelve month high of $25.84.

Adient (NYSE:ADNT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.02). The company had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.56 billion. Adient had a negative net margin of 1.53% and a positive return on equity of 8.25%. The business's quarterly revenue was up .7% compared to the same quarter last year. During the same period last year, the firm earned $0.32 EPS. As a group, equities research analysts predict that Adient will post 1.76 earnings per share for the current fiscal year.

Adient Profile

Adient plc engages in the design, development, manufacture, and market of seating systems and components for passenger cars, commercial vehicles, and light trucks. The company's automotive seating solutions include complete seating systems, frames, mechanisms, foams, head restraints, armrests, and trim covers.